Origin Property breaks records, sweeping sales of houses and condos in 2023 at more than 47 billion, exceeding the target, growing 15% from the previous year, revealing Pet Lover condos - projects on the Thonburi side - in other provinces supporting project closures. Revealing plans for 2024 to penetrate new market segments and segments where purchasing power continues to be strong

Mr. Peeraphong Charoon-ek, Chief Executive Officer of Origin Property Public Company Limited or ORI, a full-service real estate business developer, revealed that the past 2023 overview (Jan.-Th. 2023) The company has presales from residential projects. It is approximately 47,265 million baht, exceeding the full year target of 45,000 million baht, accounting for 105% from the set target. and grew from the same period last year by approximately 15% and recorded the highest sales since the company was founded (All Time High) again.

From such sales Divided into sales from condominium projects, 34,704 million baht, or approximately 73%, and sales from housing projects under Britannia Public Company Limited, 12,561 million baht, or approximately 27%, if divided by project status. There is a proportion of sales from Ready to move projects of approximately 53% and sales from projects that have just been opened for sale or are under construction (Ongoing) of approximately 47%.

“Continuously invading the condominium market for Pet Lovers. Especially in newer locations that are still Blue Ocean, there have been no condominium projects that allowed pets before. It is an important part that helps drive our sales to grow strongly. And it reflects that the trend of the new generation in urban areas has a higher demand for keeping pets in condos,” Mr. Peeraphong said.

At the same time, we are still able to drive the Origin Infinity plan, sweeping sales from house and condominium projects in new locations such as Thonburi and important economic provinces throughout the country. continuously Many projects in other provinces have received very good responses, such as Phuket and Khon Kaen.

For a new project opening in 2023 that has received a good response. Until being able to close the sale or Sold Out after opening the sale, including So Origin Siriraj, Origin Place Petchkasem, Origin Place Phahon 59 Station and The Origin Center Phuket.

Each project is unique in terms of location potential. Featured functions The price is worthwhile compared to competitors in the same location. Meanwhile, during the 4th quarter of 2023, which is the high season. The company has launched an additional 9 new projects with a total project value of over 11,040 million baht, with each project receiving a good response at the end of the year. and is expected to continue to help increase additional backlog in the 1st quarter of 2024.

Mr. Peeraphong further said that the overall picture of the real estate business in 2024 still has many external factors to keep an eye on, such as the overall world economy. Chinese economic situation Policy interest rate increase Household debt situation Many issues may affect the purchasing power of consumers. Resulting in an overview of the launch of new projects by every real estate developer this year. It should be done gradually. Compared to 1-2 years ago

In the past, Origin adhered to 4 principles in overcoming these challenges: 1. The location must be good. Choose a location where there is real purchasing demand. Focusing only on locations near the BTS. Main transportation routes Near important places 2. Segments must be different. Choose a segment where there are not many competitors. but has strong purchasing power and has a tendency to grow, such as the segment for Pet Lover and Investment Program investor groups. 3. Functions must meet the lifestyle needs of modern people. Emphasis on functions that are actually usable and 4. In one project, the needs of many groups of customers must be met. For example, the Pet Lover condo project is not sold only to pet owners. There are separate buildings or floors. For sale to both animal owners and non-animal owners. Many projects must be developed into mixed products. In order to meet the needs of customers with various purchasing powers Many projects are mixed-use. To meet the needs of a complete lifestyle Many projects must meet the needs of both buyers living in them and long-term investors.

“Many of the challenges didn't just happen this year. But it happened continuously from last year. We have proven that the group of companies can quickly adjust strategies to help us overcome every challenge in 2023. In 2024, we will still adhere to those principles in considering project development. along with keeping a close eye on external factors To be able to adapt quickly and efficiently with every situation,” Mr. Peeraphong said.

The subsidiaries that are public companies, namely Britannia Public Company Limited and Primo Service Solution Public Company Limited, will gradually announce their business plans for the year 2024 during the first quarter of 2024 by Ori Company. Jin Property Public Company Limited is likely to announce its business plan during March 2024.

Source:https://www.bangkokbiznews.com/property/1108480

at 15/1/2024